Investment in Instamojo, India’s Largest Payment Service Targeting SMEs — Accelerating investment in India’s fintech sector —
Dream Incubator Inc. (hereinafter “DI”), announced its investment in Instamojo Inc. (hereinafter “Instamojo”), India’s largest payment service targeting small and medium-sized enterprises (SMEs).
In India, the use of electronic payment services is growing* due to government policies (including the discontinuation of large-denomination currency notes), rapid growth in the popularity of smartphones and reduced telecom rates.
SMEs, which have typically relied almost entirely on cash payments, are turning more and more to electronic payment, with a tenfold increase in the number of SMEs using electronic payment expected over the next few years.
Instamojo is a frontrunner of electronic payment services that specifically target SMEs and has the opportunity to expand its operations as the market continues its rapid growth.
DI plans to continue investing in the Indian technology sector, including fintech.
* Ratio of electronic payment: 11% in 2010 à 22% in 2015 à 40% in 2020
■ About Instamojo (https://www.instamojo.com/)
India’s largest electronic payment platform targeting SMEs.
Indian VCs (Kalaari Capital and Blume Ventures), with whom DI has co-invested previously, are also investees in Instamojo.
■ About Dream Incubator Inc. (http://www.dreamincubator.co.jp/entop )
Dream Incubator Inc. (TYO: 4310), “the Business Producing Company”, is a strategic consulting and business development firm primarily for corporate clients and governmental institutions. Dream Incubator provides both capital and professional services to next-generation companies to support their growth and expansion, while also operating its own businesses.
< Reference: DI’s past investment in India >
- February 2016 Investment in Indian VC firm – Blume Ventures’ fund
- January 2017 Investment in India’s Leading Mobile Gaming Company – 99Games
- October 2017 Investment in India’s Leading Bitcoin Company, Unocoin Technologies
Dream Incubator Inc.
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